1Insurance Sample Clauses

1Insurance. When performing work on property in the care, custody or control of the AOC Group and AOC Agents, Contractor shall maintain the following insurance: (a) Commercial general liability insurance, including bodily injury, property damage and products/completed operations coverage in the amount of not less than three million dollars ($3,000,000) each occurrence or aggregate where applicable; (b) Workers’ Compensation coverage providing statutory benefits, and employer's liability insurance with minimum limits of one million dollars ($1,000,000) each accident/each employee covering all employees; (c) Business auto liability, including coverage for all owned, hired and non-owned automobiles used in connection with delivery of the Services, with limits of not less than one million dollars $1,000,000 each accident; and (d) Professional errors and omissions liability insurance in an amount of not less than one million dollars ($1,000,000) in aggregate. Contractor shall furnish separate certificates of insurance for each subcontractor. Insurance coverages provided by subcontractors as evidence of compliance with the insurance requirements of this Section 21.1 shall be subject to all of the requirements stated herein except for professional errors and omissions liability insurance. All insurance which Contractor is obligated to carry pursuant to this Agreement, shall (i) with respect to commercial general liability and business auto liability insurance, be endorsed to name the AOC Group as an additional named insured, and (ii) require the insurer to provide at least thirty (30) days prior written notice to the AOC of cancellation. For full coverage, each insurance policy shall be written on an “occurrence” form; excepting that insurance for professional liability, errors and omissions when required, may be acceptable on a “claims made” form. Contractor shall cause its insurers to issue to the AOC on or before the Effective Date certificates of insurance evidencing that the coverages required under this Agreement are maintained in force. The insurers selected by Contractor shall be reputable and financially responsible insurance carriers, with a Best’s minimum rating of “A+” (or any future equivalent).

1Insurance. The Operator shall provide and maintain the insurance coverage specified in Exhibit “B” and charge those Costs to the Joint Account. No other insurance shall be carried for the benefit of the Parties under this Agreement unless otherwise agreed by the Parties.

1Insurance. (a) Borrower shall obtain and maintain, or cause to be obtained and maintained, insurance for Borrower and the Property providing at least the following coverages: (i) insurance with respect to the Improvements and the Personal Property insuring against any peril now or hereafter included within the classification “All Risk” or “Special Perils” (including, without limitation, fire, lightning, windstorm / named storms, hail, foreign and domestic terrorism and similar acts of sabotage, explosion, riot, riot attending a strike, civil commotion, vandalism, aircraft, vehicles and smoke), in each case (A) in an amount equal to 100% of the “Full Replacement Cost,” which for purposes of this Agreement shall mean actual replacement value exclusive of costs of excavations, foundations, underground utilities and footings, with a waiver of depreciation; (B) containing an agreed amount endorsement waiving all coinsurance provisions or shall be written on a no coinsurance form; (C) providing for no deductible in excess of $50,000 (except that the deductible for wind, hail, and named storm may be up to $250,000) except as otherwise expressly and specifically permitted herein; (D) at all times insuring against at least those hazards that are commonly insured against under a “special causes of loss” form of policy, as the same shall exist on the date hereof, and together with any increase in the scope of coverage provided under such form after the date hereof; and (E) providing coverage for Loss to the Undamaged Portion of the Building, Demolition Costs and Increased Cost of Construction each in amounts acceptable to Lender. The Full Replacement Cost shall be re-determined from time to time (but not more frequently than once in any twelve (12) calendar months) at the request of Lender by an appraiser or contractor designated and paid by Xxxxxxxx and approved by Xxxxxx, or by an engineer or appraiser in the regular employ of the insurer. After the first appraisal, additional appraisals may be based on construction cost indices customarily employed in the trade. No omission on the part of Lender to request any such ascertainment shall relieve Borrower of any of its obligations under this Subsection; (ii) commercial general liability insurance against all claims for personal injury, bodily injury, death or property damage occurring upon, in or about the Property, including “Dram Shop” or other liquor liability coverage if alcoholic beverages are sold, manufactured or distribu...

1Insurance. The Participant shall obtain and maintain insurance coverage in accordance with the Policies and Procedures, which is incorporated herein by reference. [Optional: Without limiting the generality of the foregoing, the Participant shall also comply with the insurance requirements described below:] 16.1. a[Additional Insurance Requirements, if desired].

1Insurance. The Company shall obtain, within ninety (90) days of the date hereof, from financially sound and reputable insurers Directors and Officers liability insurance and term “key person” insurance on [_____], each in an amount and on terms and conditions satisfactory to the Board of Directors, and will use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board of Directors determines that such insurance should be discontinued. The key person policy shall name the Company as loss payee, and neither policy shall be cancelable by the Company without prior approval by the Board of Directors [, including the Requisite Preferred Director Vote,][and holders of a [majority] of the Preferred Stock]. [Notwithstanding any other provision of this Section 5.1 to the contrary, for so long as a Preferred Director is serving on the Board of Directors, the Company shall not cease to maintain a Directors and Officers liability insurance policy in an amount of at least [three (3)] million unless approved by such Preferred Director, [shall include the Investor[s] entitled to designate the Preferred Director pursuant to the Voting Agreement as additional insureds in such policy,]55 and shall annually, within one hundred twenty (120) days after the end of each fiscal year of the Company, deliver to the Investors a certification that such a Directors and Officers liability insurance policy remains in effect.] [Each Key Holder hereby covenants and agrees that, to the extent such Key Holder is named under such key person policy, such Key Holder will execute and deliver to the Company, as reasonably requested, a written notice and consent form with respect to such policy.]56

1Insurance. In connection with Seller’s performance of its duties and obligations under this Agreement, Producer shall maintain, from the CP Satisfaction date until the end of the term of this Agreement, insurance in accordance with Exhibit E.

1Insurance. Each Company shall (a) maintain insurance to such extent and against such hazards and liabilities in accordance with sound business practices (including any insurance required pursuant to Section 2.14any Security Document); and (b) promptly upon Agent’s written request, furnish to Agent such information about such Company’s insurance as Agent may from time to time reasonably request, which information shall be prepared in form and detail reasonably satisfactory to Agent and certified by a Financial Officer.

1Insurance. 33 8.2CASUALTY AND CONDEMNATION. 36 8.3DELIVERY OF NET CASUALTY PROCEEDS. 37 54151.4 - 1 - 9.1EVENTS OF DEFAULT. 41 9.2REMEDIES CONFERRED UPON LENDER. 42 10.1LOAN AND ADMINISTRATION EXPENSES. 44 10.2RIGHT OF LENDER TO MAKE ADVANCES TO CURE BORROWER’S DEFAULTS. 44 11.1CAPTIONS. 44 11.2LENDER’S DISCRETION. 45 11.3GOVERNING LAW. 45 11.4JURISDICTION. 45 11.5WAIVER OF JURY TRIAL. 45 11.6MODIFICATION; CONSENT. 46 11.7DELAY NOT A WAIVER. 46 11.8WAIVERS; ACQUIESCENCE OR FORBEARANCE. 46 11.9PREFERENCES. 47 11.10DISCLAIMER BY LENDER. 47 11.11PARTIAL INVALIDITY; SEVERABILITY. 47 11.12DEFINITIONS INCLUDE AMENDMENTS. 48 11.13ENTIRE AGREEMENT. 48 11.14WAIVER OF DAMAGES. 48 11.15WAIVER OF NOTICE. 48 11.16CLAIMS AGAINST LENDER. 48 11.17SET-OFFS. 49 11.18FUNDS HELD BY LENDER. 49 11.19RELATIONSHIP. 49 11.20NO THIRD PARTY BENEFICIARIES. 49 11.21AGENTS. 49 11.22CONFLICT; CONSTRUCTION OF DOCUMENTS; RELIANCE. 50 11.23INTERPRETATION. 50 11.24SUCCESSORS AND ASSIGNS. 50 11.25TIME IS OF THE ESSENCE. 50 11.26NOTICES. 51 11.27EXECUTION IN COUNTERPARTS. 51 11.28JOINT AND SEVERAL. 51

1Insurance. The Company shall use its commercially reasonable efforts to obtain, within ninety (90) days of the date hereof, from financially sound and reputable insurers Directors and Officers liability insurance and term “key-person” insurance on Xxxxx XxXxxxx and Xxxxxxxx Xxxxxxx, each in an amount and on terms and conditions satisfactory to the Board of Directors, and will use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board of Directors determines that such insurance should be discontinued. The key-person policies shall name the Company as loss payee. None of these policies shall be cancelable by the Company without prior approval by the Board of Directors including, for so long as one or more Series A Directors are serving on the Board of Directors, at least one Series A Director. Notwithstanding any other provision of this Section 5.1 to the contrary, for so long as one or more Series A Directors are serving on the Board of Directors, the Company shall not cease to maintain a Directors and Officers liability insurance policy in an amount of at least two million dollars ($2,000,000) unless approved by the Board of Directors including the then-serving Series A Directors, and the Company shall annually, within one hundred twenty (120) days after the end of each fiscal year of the Company, deliver to the Purchasers (as defined in the Purchase Agreement) a certification that such a Directors and Officers liability insurance policy remains in effect.

1Insurance. The Vendor shall, at its own expense, procure and maintain, without interruption during the entire term of this Agreement, insurance of the kinds and limits listed hereunder. Certificate(s) of insurance and an Additional Insured Endorsement issued by the contractor’s insurance carrier shall be furnished to Auburn before beginning work and shall name Auburn University, its Board of Trustees, Faculty, Staff, and Agents as Additional Insureds on the General Liability, Employers’ Liability, Automobile Liability and Umbrella Liability policies. The insurance coverages required under this contract are minimum insurance limits required and are not intended to limit the responsibility or liability of the Vendor.